Conventional magnetic circuit components, such as inductors, are comprised of a high-permeability magnetic material and include one or two air gaps to control inductance. Although the size of such a magnetic component can be decreased by increasing the operating frequency, core and winding losses increase as frequency increases. These increased losses are due, in part, to nonuniform fringing fields about the air gap which cause undesirable eddy currents in the core and winding. Hence, there is a trade-off between size and efficiency of magnetic circuit components.